Conversation can be recorded for later analysis which gives insights into how to build better customer banking relationship. Of all the times Web Chat was offered (initiated by adviser), how often was it accepted?And how many made it to at least 2 interactions during the chat?Did chat have a positive impact on web conversions?How often does web chat lead to offline conversions?What pages were visitors on when they decided to chat?How "engaged" were visitors at the time they started to chat (Were they interacting with the website enough)?Do long chats lead to higher conversion than short chats?Do we have logged in ID's for those chatting such that we can pass chat metrics to CRM? Strengths &Weaknesses Key Business Stakeholders Key Business Stakeholders KBS Individual Objectives Improve customer service efficiencyImprove customer service qualityIncrease the Accuracy & Balance of Support ResponsesImprove Visibility, Trust and Regulatory Compliance /Reduction in Complaints Compliance (Security/Legal) KBS Individual Objectives Reduce Customer Touch points,Improve customer service efficiency(Improved Resolution Rate of Customer Service Issues & therefore, Improve Levels of Customer Service)Improve customer service qualityExpand customer service channelsReduction in Cost:(Associated with Call Centre & Branch Operations)Increased Revenue:Reduced Support:Improved Visibility, Trust and Regulatory Compliance /Reduction in Complaints: Business Process/ Operations MI/ BACompliance (Security/Legal)Customer ServiceITLines of Business Marketing Web Optimisation (CRM/ UX) Reduce Customer Touch pointsImprove customer service efficiencyImprove customer service qualityExpand customer service channelsReduction in Cost (Associated with Call Centre & Branch Operations)Increase the Accuracy & Balance of Support ResponsesImprove Visibility, Trust and Regulatory Compliance /Reduction in Complaints: Customer Service Increase the Accuracy & Balance of Support Responses IT Reduce Customer Touch pointsImprove customer service efficiencyImprove customer service qualityExpand customer service channelsIncrease Revenue Lines of Business (Accounts, Insurance etc.) Reduce Customer Touch pointsImprove customer service efficiencyImprove customer service qualityExpand customer service channelsIncrease RevenueImprove Visibility, Trust and Regulatory Compliance /Reduction in Complaints Marketing Reduce Customer Touch pointsImprove customer service efficiencyImprove customer service qualityExpand customer service channelsReduction in Cost (Associated with Call Centre & Branch Operations)Increase the Accuracy & Balance of Support Responses Web Optimisation (CRM/UX) Reduce Customer Touch pointsImprove customer service efficiencyImprove customer service qualityExpand customer service channelsReduction in Cost (Associated with Call Centre & Branch Operations)Increase the Accuracy & Balance of Support ResponsesImprove Visibility, Trust and Regulatory Compliance /Reduction in Complaints Business Process/ Operations MI/ BA Questions to Solicit Optimisation & Access Benefits of Web Chat Benefits Realisation & Optimisation using MI /Web Analytics Reduce Customer Touch Points KPIs Number of times customer contact the bank (branch).Average cost per customer contact Assisted ConversionsUsage by New and Existing CustomerSignup rate (unique customers –segmented by Geography- customer segment, sales channels etc.) Usage rate (visits/hits per day/week/month/etc. - segmented by Geography- customer segment, sales channels etc.) Sales generation rateNumber of Links to Conversion Improve Customer Service Number of customers served per hour Average issue resolution time Numbers of customer service issues resolved per adviser per dayNumber of outstanding customer service issues Success rate of engagement Reduction in Cost Internal measure of how many time customer contact the bank.Average cost per customer contact – which should go downAssisted ConversionsUsage by New and Existing CustomerSignup rate (unique customers –segmented by Geography- customer segment, sales channels etc) Usage rate (visits/hits per day/week/month/etc - segmented by Geography- customer segment, sales channels etc) Sales generation rate Expand Customer Service Channel Number of customers served Number of up-sales as a result of chat requestCross-sell and upsell revenue Average value per customer (i.e. The average amount of revenue from each customer) Average number of products sold per customer Customer retention rate Overall revenue Overall OPEX (operational expenditure) –channels where chat supplies supplementary service to. Improve Customer Service Quality Click to Chat (CTA)Top Click locationsCustomer satisfaction scores (Customer satisfaction depends on satisfying 3 questions. What do the customers want? What’s hindering their progress? What would it take to resolve it?Detail Customer Satisfaction Custom complaint to customer resolution ratio Number of complaints – should go downTime on chatVisitor Loyalty Improve Visitbility, Trust & Regulatory Compliance Number of Complaints via Call, Post/ Email Customer retentionNumber of Abandon Chats SessionsCustomer satisfaction scoresDetail Customer Satisfaction Visitor Loyalty Increase the Accuracy & Balance of Support Responses Availability (stability)% errors, % drop out,Number of technical customer issues resolvedTime to resolve of technical customer Increase Revenue Number incremental sales;Number of cross sales;Number Up-salesSales generation rateDays to Conversion KPIs KPIs KPIs KPIs KPIs KPIs KPIs Seasonality – People spend less, complain less/more at different times of the year, so this could impact/obscure results

Lack of Benchmark Data – to properly measure benefits realised a business needs reliable and trusted benchmark data, i.e., what were last year’s figures for these KPIs to measure against, without this measuring benefit it is very difficult to prove true benefits of Web chat.

Web Analytics data can be access and relevant reports can be generated for certain KPIs on the NBS website to cross reference pre and post implementation of the Web Chat project.

Other variables –A big TV Ad campaign, for example,may naturally force up cross-sales – it might look like web chat did it but actually it was another factor. It will help with Assisted conversion.

For other channels, if the data was captured in a database then the relevant information from DB can be pulled for comparison/ cross referencing. Offline: TV Ads, Branch, Call Centres Online: Digital Ads, Social Media, Product /Service Pages -web analytics data Determine how to reach out to visitors whose behaviour indicates inclination to complete an application engage by a specialist adviser in that area. By integrating Web Chat feed/ MI along with other web analytics metrics it will provide customer insights into resolving Complaints, sales leads, suggestions for process improvement etc. Benefits Realisation & Optimisation using MI /Web Analytics By looking at average bounce time pre and post implementation.

Comparison pre and post usage of other site tools like search or FAQs. Why Implement Web Chat? Web Chat influences decision making: Visitors with question but not ready to actThose looking to switch financial situationTech Savvy people setting up 1st account Web Chat will allow for NBS to meet the customer at their need Web Chat gives the customer sort after options: They don’t have to wait on the phoneThey don’t have to wait for an emailThey don’t have to researchThey don’t have to driveThey can do other things while chattingThey can ask a human being a question and not a robotThey can end the conversation when they need to Data Channels Strengths & Weaknesses In order to assess how Web chat helps improve conversion , generate more sales etc. according to KPIs, there needs to be data (benchmark and on-going) from channels (touch points) readily available compare and validate against those from the Web Chat metric /Management .